Representative organization, leading the coordination work in the field of development of both global and national credit union movement is the World Council of Credit Unions (WOCCU) established in 1971 (headquartered in Madison, USA). First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. Share contributions are transferred to the credit union on the basis of membership for the whole stay of a shareholder as member of the credit union and are the basis of membership. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.